FOR IMMEDIATE RELEASE                                    2000-98


    James M. Daly and William L. Tolbert, Jr. Named Associate
                            Directors
            in SEC's Division of Corporation Finance

     Washington, DC, July 19, 2000 -- Securities and Exchange
Commission Director of Corporation Finance David B.H. Martin
today named James M. Daly and William L. Tolbert, Jr. as
Associate Directors for Disclosure Operations.  In their new
positions, Mr. Daly and Mr. Tolbert will be responsible, along
with Shelley E. Parratt, for the Division's program of reviewing
disclosure in connection with offerings of securities to the
public and periodic reporting of information and solicitation of
proxies by public companies.  The disclosure review program is
the core function of the Division.

     SEC Chairman Arthur Levitt said, "The disclosure review
program in the Division of Corporation Finance is central to this
agency's mission.  Jim and Bill are fine examples of the depth of
talent in the Division of Corporation Finance and represent the
best of what this agency stands for.  They will continue the
Division's long tradition of anticipating and meeting the demands
of our evolving markets."

     David Martin said, "Both Jim and Bill have long and
distinguished records within the Division.  They bring wisdom,
judgment, and dedication to the job of Associate Director and I
know they will do a superb job overseeing our disclosure review
program."

     Mr. Daly joined the Commission in 1980 as a Financial
Analyst.  He became a Branch Chief in 1985 and has been an
Assistant Director since 1989.  Jim received his M.B.A. from the
University of New Orleans in 1980 and his B.A. with a major in
psychology from Tulane University in 1974.

     Mr. Tolbert joined the Commission in 1988 as an Attorney
Adviser.  He became a Branch Chief in 1994 and has been an
Assistant Director since 1996.  Bill graduated from Case Western
Reserve University School of Law (cum laude) in 1988.  He
received a B.S. (cum laude) with a major in accounting from Ohio
State University in 1985.

                                
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